A buy-sell agreement is sometimes referred to as a buyout agreement. It is a legally binding agreement between business partners or co-founders that considers how a coowner’s share will be dealt with in the event that one or more of the owners can no longer work for the business.

If you need a business lawyer with experience in drafting contracts to assist you with your own buy-sell agreement, LegalVision has a team of experienced lawyers ready to assist. If you need more information, or would like an obligation-free consultation and fixed-fee quote, get in touch on 1300 544 755.

What triggers a buy-sell agreement?

Some events that may trigger the clauses of a buy-sell agreement include death, injury, divorce, or any other occurrence that leads a co-owner to depart from the business.

Why do I need a buy-sell agreement?

A buy-sell agreement stipulates how a departing coowner’s share of the business will be handled, and whether it will be distributed to, or bought out by, the remaining co-owners in the business.

A buy-sell agreement makes sense for most business structures, particularly partnerships and limited liability companies. The agreement can be drafted bespoke or worked into a partnership agreement or shareholders agreement.

While the importance of a buy-sell agreement may vary depending on the size and complexity of the business, even smaller businesses can benefit greatly from the financial certainty that such agreements afford their co-owners.

In practice, it is inevitable that disputes and misunderstandings will arise if a coowner can no longer participate in the running of the business. Without a buy-sell agreement in place, there is a much greater risk that there will be uncertainty leading to disputes between the remaining stakeholders.

Who drafts a buy-sell agreement?

If you need a buy-sell agreement drafted, our business lawyers can assist. A buy-sell agreement is not an expensive document and offers invaluable long-term security to you and your business.

Make an Enquiry

Call Us On

1300 544 755

Monday - Thursday: 8:30am to 6pm AEST
Friday: 8:30am to 5pm AEST
Overseas Callers: +61 2 8074 7400

Money Back Guarantee

As a first time LegalVision client, you receive our Money Back Guarantee. We believe in exceptional client service, so if you aren’t satisfied with the service you receive, we will provide you with a full refund (less any disbursements paid on your behalf).

Why LegalVision?

  • Cost Certainty

    We offer our clients certainty and transparency by providing fixed fees.

  • Responsive Timeframes

    We get back to you with a quote within two hours. We maximise efficiency and minimise delays by communicating with our clients on their terms and in a manner that suits them.

  • Specialist Lawyers

    Our lawyers are all specialists in their given field and have experience working with clients across a breadth of industries and regions.

  • Full Service Commercial Law Firm

    As a full service firm, we can assist your business with any commercial legal matter.

Trustpilot 5 star rating

We’re rated 4.9/5 stars on Trustpilot, check out our 189 reviews .

The All-In-One Legal Solution for Your Business

We’ll take care of all the business-as-usual legal work, so you can focus on running your business.
A LVConnect Pro membership includes unlimited document drafting and reviews, trade mark applications and advice consultations.

Traditional Law Firm

Consultation with a lawyer

Can be $600 or more for a one hour conversation

LVConnect Pro Membership

All the legal assistance your business needs

From $119/week
+ GST#

Ask us about LVConnect when you speak to our team.

159,000 Australian Businesses Assisted
12,800 Valued Clients
5,200 Free Legal Articles

Get in Touch

Fill out the form below and a LegalVision team member will be in touch shortly!

  • 2020 Excellence in Technology & Innovation – Finalist – Australasian Law Awards 2020 Excellence in Technology & Innovation Finalist – Australasian Law Awards
  • 2020 Employer of Choice – Winner – Australasian Lawyer 2020 Employer of Choice Winner – Australasian Lawyer
  • 2021 Fastest Growing Law Firm - Financial Times APAC 500 2021 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review 2020 AFR Fast 100 List - Australian Financial Review
  • 2021 Law Firm of the Year - Australasian Law Awards 2021 Law Firm of the Year - Australasian Law Awards
  • Most Innovative Law Firm - 2019 Australasian Lawyer 2019 Most Innovative Firm - Australasian Lawyer